Thailand Launches $13.7 Billion Digital Money Handout to Boost Economy

The initiative aims to stimulate economic growth by providing 10,000 baht to 50 million lower-income citizens for local spending.

Thailand's Prime Minister Srettha Thavisin announced a digital cash handout plan of 10,000 baht ($275) each to an estimated 50 million lower-income Thais.
The $13.7 billion stimulus, funded by the 2024 and 2025 fiscal budgets, is expected to increase GDP growth by 1.2 to 1.6 percentage points.
Eligible recipients are those with annual incomes not exceeding 840,000 baht ($23,000) and savings not over 500,000 baht ($13,700).
The handouts, aimed at boosting local businesses, can only be spent in the recipients' own districts and exclude purchases like oil, services, and online shopping.
The plan, a key campaign promise of the ruling Pheu Thai party, faced criticism for potentially leading to unsustainable economic growth and a public debt increase.